Mozart Therapeutics, a prominent biotech company based in Seattle, WA, has successfully raised $25 million in a Series A extension round. This additional funding brings the total amount raised to $80 million. The round saw participation from notable investors, including Pfizer Ventures, AbbVie Ventures, Ono Venture Investment, and UPMC Enterprises. They joined existing investors such as ARCH Venture Partners, Sofinnova Partners, Eli Lilly & Company, and more. As part of the financing, Marie-Claire Peakman, PhD, Partner of Pfizer Ventures, and Jasmina Marjanovic, PhD, Director AbbVie Ventures, will join Mozart’s Board of Directors.
The raised funds will be utilized by Mozart Therapeutics to advance its lead candidate, MTX-101, into first-in-human clinical trials. Additionally, the funding will support the expansion of the company’s pipeline of CD8 Treg modulators. Led by President and CEO Katie Fanning, Mozart Therapeutics is dedicated to the development of disease-modifying therapies for autoimmune and inflammatory diseases.
The company’s primary focus lies in the development of a portfolio of CD8 Treg modulators, with MTX-101 as the lead candidate. MTX-101 is a bispecific autoimmune checkpoint inhibitor designed to target autoimmune diseases. Mozart Therapeutics plans to submit an Investigational New Drug (IND) application and initiate a Phase 1 clinical trial for MTX-101 in early 2024. In addition to MTX-101, the company is also engaged in preclinical development of a cytokine-based CD8 Treg network modulator.
The expanded funding for Mozart Therapeutics highlights the growing interest in innovative treatments for autoimmune and inflammatory diseases. With a strong portfolio of CD8 Treg modulators, the company is well-positioned to make significant advancements in the field. The support from prominent investors and the addition of industry experts to the Board of Directors further solidify Mozart Therapeutics’ potential for success.
As the company moves forward with its clinical trials and pipeline expansion, Mozart Therapeutics aims to bring forth groundbreaking therapies that can potentially transform the treatment landscape for autoimmune diseases. By leveraging CD8 Treg modulation, the company is at the forefront of developing disease-modifying treatments that address the underlying causes of these conditions.